Last week British Formula One stars threw their weight behind the prospect of a grand prix being staged in and around the Olympic Stadium.

You are only going to get positive comments from me when it comes to British grands prix.

– Jenson Button

It could possibly be one of the best grands prix of the whole year, so I'd definitely support it.

– Lewis Hamilton

Among five bids on the table for the London Legacy Development Corporation (LLDC) to mull over is one from Intelligent Transport Solutions Ltd, based at Wanstead in east London.

The company are proposing using the venue for a race, which would naturally become the new European Grand Prix given Silverstone's long-term contract to stage the British Grand Prix.

If successful, it would certainly fulfil Bernie Ecclestone's dream of staging a race in London, just as his aims of holding an event with Manhattan as a backdrop are slowly coming to fruition with next year's planned Grand Prix of America in New Jersey.

McLaren's Jenson Button during the Monaco Grand Prix, which races through the streets of Monte Carlo. Credit: PA